Along with the mentioned patches, 3.4.2 needs Henry Minsky's patches for i18n stuff, I think. Check one of the other, recent threads for more info.
Ken ...
Stock 3.4.2 should work as long as you don't need Henry's stuff. Vinod wrote acs-mail to work in the presence of the broken version of ns_uuencode, but the Tcl code involved's very, very slow. But most OpenACS 4 sites aren't going to be sending out large number of e-mail attachments anyway. Those that do, though, need Vinod's working ns_uuencode.
With the stock version you'll also want to upgrade the PG and ora8 drivers (I need to put up my version of ora8 soon). And you'll need to add nsxml.
Mat's work is intended to make it really easy to grab an AOLserver that has all the pieces you need ready to go. It's not meant to require you to use our bundled up copy.